Do you need to Register Your Company to undertake Business?

Yes, no, sometimes and maybe.

The solution about what registration is needed for a business is dependent upon two things: (1) the legal entity you create to use your company and (2) the character of one’s business.

Small business owners often make the mistake of creating a corporation or LLC without completing basic steps. Make use of this short checklist to review whether you formed or registered your company properly.

1. Pick the right legal structure for your business. Your options range from the limited liability company (LLC), general or limited partnership, limited liability partnership or corporation register a company in the US. Your company lawyer and your accountant must be consulted. You should look at such factors as how many owners, the business enterprise plan, the capitalization plan, taxes and other factors.

2. File a Certificate of Business Name. Most businesses work with a shorten name, called a trade name, for marketing purposes. ACME Medical Products, Incorporated will soon be marketed as “ACME” or “ACME Medical Products.” Among the cheapest and most essential things you certainly can do keep your limited liability “shield” in position is to file a Certificate of Assumed Business Name so as safely to utilize trade names.

3. Register for your business’ Federal Tax ID. All partnerships, multi-member LLC’s and corporations must have an Employer Identification Number, which can be obtained from the Internal Revenue Service.

4. Register with the State Revenue Agency and Obtain Permits/Licenses. With respect to the nature of your company, perhaps you are required to join up together with your state, especially if you sell an item and are required to collect sales tax. In certain parts of the nation, you may even be required to acquire local permits or licenses.

Of course, here is the short list, and your company may be required to acquire other permits or licenses, or perhaps you are required to join up with other governmental agencies. All law is local, in the sense that what the law states is applied differently in various states, counties and cities. See your legal advisor for help.